American Expat Small-Business Owner Living in Canada – 5471 issues Key Points American expat small business owners in Canada may need to file Form 5471 to report their foreign corporation to the IRS. Failure to file Form 5471 can result in significant penalties, even if no tax is owed. Proper classification of the Canadian corporation…
Does my Canadian Corporation Need to File US Returns? Question Hi Phil I have some questions about my Canadian company that I need answers to. I run an crypto consulting company from Vancouver but lots of my clients are in the US. I would say that around 70% of my revenue actually comes from the…
Which should I file first, my US or Canadian tax return? Question Mr. Hogan, I’ve been following you on the Facebook group for some time and I really enjoy the articles you write. I hope someday that I could earn enough money to have you help me file my tax returns. For now I’m filing…
Canadian company (BC) doing business in the US Question Hi Phil I own a BC corporation and I’m starting to do some business in California. I sell online goods to residents of California and I plan on expanding the business to other states on the west coast and perhaps the east coast if things go…
Canadian Corporation Doing Business in the US Question I am an accountant in [Canadian city] and have tried to call the IRS to determine what my client will require in forms and cannot get to talk to a person. I found your name on the internet and would gladly pay for your expertise in just…